[Marie Esprit Léon]. French economist, born at Évreux in 1834. From 1866 to 1868 he edited a journal called Le Travail, to which he contributed many valuable sociological articles. In 1870 he was appointed professor of political economy at Lausanne, a post which he retained until his retirement in 1892. He died on the 4th of January 1910. Walras is best known for his mathematical treatment of economics, and the extreme care he has shown in his works in distinguishing theory and practice. His most important works are Éléments d’économie politique pure (1874–1877) and Théorie mathématique de la richesse sociale (1883).
Of his many valuable papers contributed to various periodicals a good bibliography will be found in the Dict. Pol. Econ. iii. 654. See biographical notice in Economic Journal (March 1910) by Vilfredo Pareto, his successor in the chair of political economy at Lausanne.
